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Micah Nathan
@micahnathan
(2/2) Is it possible to include inherently valuable metadata to increase the value of a particular NFT? The parallel would be gold making a ring more valuable, diamonds, etc. Is there a digital equivalent?
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jon
@jonbray.eth
Inherently, not really when it comes to metadata since it's just a pointer to a reference. There are some more esoteric token standards that let you do things like this. ERC-404 would be a means to include fungible tokens inside of an NFT, which is pretty close to the analogy.
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jon
@jonbray.eth
An example of this using ERC-404 might be that every NFT inherently includes some amount of ETH (WETH) inside of the NFT. If you set the max that each can contain at 1 ETH. You could have some tokens that have 0.25 ETH when they're minted, some that have 0.01 which would be a way to imbue various valued into the NFT.
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Micah Nathan
@micahnathan
There’s a lot to unpack in your brilliant reply. 1. If the bidder knows the precious content (the carats, if you will) then why not just reduce the price accordingly? 2. A way to avoid this would be inserting bitcoin “into” the token, adding another layer of speculation.
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jon
@jonbray.eth
Right, not revealing upfront would be important for something like this. You could have the amount be unknown prior to minting, so there's some inherent value but unsure of how much. You could also add the amounts afterwards, or have the amount tied to some other rarity trait of each piece.
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